Singaporean gambling market is considered an emerging one and the traditional casinos on the territory of the country are thriving despite the current issues that have befallen the Asian gambling sector. As for the remote gambling activities, Singaporean officials have taken imminent actions towards their complete prohibition and Singapore players are not allowed to place bets via mobile devices and computers.
History of Gambling Regulation in Singapore
Singaporean authorities have been reluctant to diversify the casino industry and give their consent to the establishment of casino resorts on the territory of the country for a long time. That had changed in 2005 when the Prime Minister Lee Hsien Loong announced that two casinos were to be established at Marina Bayfront and Sentosa. Singaporean officials opted for such a move in order to remain competitive, keep the tourism sector and the economy in general, stable. At the beginning of 2006, the Casino Control Bill was introduced and the two casino resorts were given the nod for a 10-year period that expires in 2016.
Overview
Gambling Legislation in Singapore although Singapore is not among the countries that have long traditions in casino games, the market has undergone rapid development in the recent years and Singapore became the second most visited and most influential gambling destination in Asia with annual revenue that exceeds US$6 billion. According to the Singaporean laws, players are supposed to pay entrance fee that depends on their nationality. Singaporean residents pay more than foreigners as gambling authorities wanted to discourage them from engaging in gambling activities and therefore, protect them from the negative factors they are exposed to – namely overspending and addiction. Back in 2005, two casinos, part of Marina Bay Sands and Sentosa, were backed by authorities.
